Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Student Athletes Beware: March Madness Gambling Has Serious Consequences
Author: Scarinci Hollenbeck, LLC
Date: March 13, 2013
Key Contacts
Back
Student Athletes joining in on a campus pool for March Madness is harmless fun, right? Don’t bet on it!
The chance to earn a little money through March Madness gambling brackets and betting pools may be enticing and seemingly harmless to student athletes. However, many may not be aware that small “friendly wagers” constitute a violation of sports law and the provisions that govern gambling.
The National Collegiate Athletic Association monitors gambling among student athletes very closely during March Madness, and committing NCAA violations by gambling can reap serious consequences for otherwise stellar student athletes. This includes making bets through a bookmaker, the internet or any other method utilized by organized gambling, or giving information to another individual to make bets.
Athletes should keep in mind that while NCAA laws do not expressly prohibit athletes from filling out the typical team bracket sheet, it does fall into the gambling (and therefore illegal) category when money is paid to enter the pool and prizes of any nominal value are given. The simple rule to remember is that if the contest requires an entry fee and can result in winning a prize, then chances are it is considered to be sports wagering and is prohibited. Entry fees and/or prizes come in many “shapes and sizes” but typically involve something of value in either case. There are many contests that are free to enter but offer a prize. There are also contests that charge a fee, but result in no prize. These are permissible contests that should not jeopardize your eligibility as a NCAA student-athlete.
Those who are found to be in violation of NCAA law can face a number of punishments which may include indefinite suspension from a team or expulsion from school, both of which may jeopardize students from being drafted into professional sports leagues. In addition, players may also be banned from professional sports and, in serious cases, face jail time.
- Industries: Entertainment & Media
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
When to Settle and When to Fight: A Litigator's Framework
Every lawsuit comes with a cost, and knowing when to settle a lawsuit is one of the most consequential decisions a business owner will face. Experienced litigators understand how to minimize cost and obtain certainty for their clients. For many business owners, the decision is viewed almost entirely through a financial lens: What will it cost […]
Author: Sean M. Pena
A Whistleblower Just Filed a Complaint Against Your Company: Here's What to Do Now
Few situations create more uncertainty than learning that an employee has filed a whistleblower complaint. Questions arise immediately: Is the allegation legitimate? Should the employee be placed on leave? Do we need to notify our insurance carrier? Are we now prevented from disciplining the employee if there are unrelated ongoing work related issues? There is […]
Author: Sean M. Pena
Assignment for the Benefit of Creditors: An Alternative to Bankruptcy for Distressed Businesses
When a business reaches the point where it can no longer service its debts or otherwise resolve its liabilities, management is often faced with a difficult question: is a bankruptcy filing necessary or is there another way to perform an orderly liquidation or sale of the business assets? While Chapters 7 and 11 of the […]
Author: John D. Giampolo
Breaking Down New Jersey’s “Mansion” Tax: What Buyers and Sellers Need to Know
For many years, the New Jersey Mansion Tax has been a significant consideration in high-value real estate transactions. Recent legislative changes, however, have substantially altered how the tax operates, including who is responsible for paying it and the amount owed in certain transactions. Whether you are purchasing, selling, or investing in New Jersey real estate, […]
Author: George McGowan
Estate Planning for Digital Assets Under New Jersey Law
As our personal and financial lives increasingly move online, estate planning must evolve to address a new category of property: digital assets. From email accounts and social media profiles to cryptocurrency and cloud-stored business records, these assets often carry both financial and sentimental value. Yet, without proper planning, they can become inaccessible—or even lost—upon incapacity […]
Author: Marc J. Comer
The Role of Representation and Warranty Insurance in M&A Transactions
In today’s mergers and acquisitions market, representation and warranty (R&W) insurance has become a common feature of deal negotiations. Once used primarily in larger transactions, R&W insurance is now frequently incorporated into middle-market deals as buyers and sellers look for efficient ways to allocate risk and close deals. When structured properly, R&W insurance can help […]
Author: George McGowan
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.